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Efficiency audit shows tight finances as Socorro ISD readies November tax-rate vote
Summary
A consultant presentation detailed the results of an efficiency audit required for a proposed M&O tax increase; report shows depleted fund balance, payroll as largest expense, below-average revenue per student and a proposed 12-cent M&O bump to fund pay and student services ahead of a November voter-approval election.
Socorro Independent School District officials on Wednesday presented an efficiency audit required ahead of a proposed increase in the district’s maintenance and operations (M&O) tax rate and a planned November voter-approval election. The audit, prepared under Legislative Budget Board guidelines, found the district’s fund balance declining, payroll representing the largest share of spending, and operating revenue per student below peer and state averages.
Chief Financial Officer David Solis introduced the audit and said the full report and presentation are posted on the district’s financial transparency webpages. Dr. Jody Durán of Moak Casey, who presented the findings, said the district is proposing to add three “golden pennies” and nine “copper pennies,” a 12-cent increase that would raise the M&O rate to 0.7889 and is…
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